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Lockheed's hybrid airships get first customer in Canadian miner

Published 11/16/2016, 03:48 PM
Lockheed's hybrid airships get first customer in Canadian miner
LMT
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QRM
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  • The operator of Lockheed Martin 's (LMT -0.9%) blimp-like hybrid airships announces its first customer, Canada's Quest Rare Minerals (OTC:QRMLF), which expects to lease seven of the cargo aircraft.
  • The deal between operator Straightline Aviation and Quest is valued at US$850M, including fuel costs, over a 10-year period starting in 2019.
  • Quest says it plans to use the airships to provide dedicated air services at its Strange Lake complex mine site in northern Quebec.
  • LMT has said the airships, which can move 20 tons of cargo and set down on nearly any flat surface, will revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads.


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